CDS Crypto News OpenSea to Protect Buyers From Unintentional Purchases
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OpenSea to Protect Buyers From Unintentional Purchases

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OpenSea to Protect Buyers From Unintentional Purchases
OpenSea to Protect Buyers From Unintentional Purchases

OpenSea, the world’s largest NFT marketplace, has announced new measures to protect its customers from unwanted purchases.

OpenSea to Protect Buyers From Unintentional Purchases

Users of the NFT marketplace have been subjected to many scams so far. This is because the platform requires users to sign unintelligible signatures during NFT auctions and sales. Many users do not understand the content of the message sent by the platform but trust the platform and approve it. As a result, many NFT users have seen money withdrawn from their wallets and purchased NFTs against their will.

Ape NFTs Stolen

A multi-million dollar collection of NFTs belonging to Bored Ape Yacht Club was stolen using this method. Users lost their NFTs as a result of a moment of carelessness and technical flaws of the platform. It is well known to users that signature requests appear at the entrance and almost everywhere else on the platform. However, hackers saw this as a technical flaw and defrauded many people.

Opensea Protect Buyers

Novel Precautions

OpenSea announced on Twitter that it had taken novel precautions to stop unwanted purchases. According to the SeaPort 1.4 update, users will encounter a status query on the screen to accept incoming offers. The new system will show the current status of the NFT asset on the offer screen. In addition, if there is a change in the status of the NFT asset after the offer is accepted, the transaction will be rejected.

All precautions are taken to provide better experiences for the platform’s customers. Users are expected to be protected from scams with this method.

Reference

www.crypto.news

Written by
oguz

The author is a political science and public administration student at Kocaeli University. He is also studying Management Information Systems at Anadolu University. He met Blockchain technology and Cryptocurrencies for the first time in 2019. Interested in cryptocurrencies for over 2 years. In addition he provides E-commerce and social media marketing services.

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